Marcopolo S.A. to exit bus joint venture with Tata Motors Updated Dec 17, 2020 | 11:30 IST
Tata Motors and Marcopolo S.A., among the largest bus and coach manufacturers in the world, formed this 51:49 joint venture in 2006. Marcopolo S.A. to exit bus joint venture with Tata Motors
2020 has taken its latest victim in the automotive industry the Tata Marcopolo Motors Limited joint venture. Yep, Tata Motors has announced that it will now buy out Marcopolo s share in this joint venture that builds and sells buses under the umbrella of the Starbus and Starbus Ultra brands. So, what s going to happen is that Tata Motors will buy out Marcopolo S.A. s stake in the JV for ₹99.96 crore. Once the purchase is executed, Tata Motors will become the sole owner of the Tata Marcopolo Motors Limited joint venture. Now, if you are wondering the reason behind the decision Tata Motors explained that it is a result of Marcopolo S.A. s new business strategy.